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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net income $ 304.5 $ 344.7
Non-cash items affecting net income:    
Depreciation 83.6 72.7
Amortization 25.3 23.6
Stock-based compensation 31.9 32.7
Recognition of actuarial losses (gains) 0.3 (1.3)
Deferred income taxes (11.4) 8.2
Loss on sale of product line   2.4
Asset impairment charges 27.1 3.2
Amortization of deferred financing fees 1.5 1.5
Loss on sale of property, plant and equipment 1.9 0.3
Changes in assets and liabilities:    
Increase in accounts receivable (52.0) (34.5)
Increase in inventories (50.8) (60.7)
Increase (decrease) in accounts payable 6.4 (3.5)
Increase in other assets (19.6) (28.0)
Decrease in accrued expenses and other liabilities (7.3) (23.9)
Increase in accrued taxes 2.3 15.2
Net cash provided by operating activities 343.7 352.6
Investing activities    
Capital expenditures [1] (106.5) (95.5)
Proceeds from disposition of assets 1.3 0.2
Proceeds from sale of product line   1.5
Cost of acquisitions, net of cash acquired (466.0) (19.4)
Other investing activities, net 2.8  
Net cash used in investing activities (568.4) (113.2)
Financing activities    
Increase in short-term debt 525.0  
Issuance of long-term debt 2,091.2 375.0
Repayment of long-term debt (1,610.0) (345.0)
Proceeds from the exercise of stock options 4.1 25.8
Treasury stock purchases (602.7) (173.7)
Employee withholding taxes paid related to stock-based compensation (13.6) (10.2)
Deferred acquisition payment   (12.4)
Dividends to stockholders (87.1) (82.7)
Other financing, net 0.5 (0.3)
Net cash provided by (used in) financing activities 307.4 (223.5)
Effect of foreign exchange rate changes on cash (7.8) 9.7
Net increase in cash and cash equivalents 74.9 25.6
Cash, cash equivalents and restricted cash at beginning of period [2] 323.0 251.5
Cash, cash equivalents and restricted cash at end of period [2] $ 397.9 $ 277.1
[1] Capital expenditures of $9.1 million and $11.3 million that have not been paid as of September 30, 2018 and 2017, respectively, were excluded from the Statements of Cash Flows.
[2] Restricted cash of $0.9 and $7.1 million is included in Other current assets and Other assets, respectively, as of September 30, 2018 within our Condensed Consolidated Balance Sheet. There was no restricted cash as of December 31, 2017.